Prices mixed on cooler weather and strong LNG arrivals

LONDON, April 18 (Reuters) - British and Dutch wholesale gas prices were mixed on Tuesday as strong arrivals of liquefied natural gas (LNG) reduced the impact of cooler weather forecast for this week and next.

The benchmark Dutch May price was up 0.28 euros at 41.43 euros per megawatt hour (MWh) by 0858 GMT, Refinitiv Eikon data showed.

The British within-day contract was down 2.5 pence at 97 pence per therm and the day-ahead price fell 2.5 pence to 97.5 pence/therm, the data showed.

"Next week we have a bit colder weather, so prices won't go lower yet," one European gas trader said, adding that demand is being bolstered by prices below the level that would prompt a switch to coal.

"This is offsetting a bit of the bearishness from LNG arrivals and fact that Asia is not competing with us yet," he said.

The return of supply from France's LNG terminal after a lengthy strike remains a bearish factor for the market.

Norway's gas infrastructure maintenance has been cancelled at Kollsnes and Troll because of industrial action.

In Britain, the gas system was oversupplied by 11.8 million cubic meters (mcm) on Tuesday, National Gas data showed.

Peak wind power generation is forecast at 11.6 GW on Tuesday and 12.1 GW on Wednesday, out of a total metered capacity of 22 GW, Elexon data shows.

Higher wind power generation generally reduces demand for gas to generate electricity.

European gas storage sites were 56.6% full as injections begin to replenish supplies for next winter, data from Gas Infrastructure Europe shows.

In the European carbon market, the benchmark contract was almost flat at 93.10 euros a tonne.

National Grid